HSBC Flexi Cap Fund vs Union Flexi Cap Fund
HSBC Flexi Cap Fund and Union Flexi Cap Fund are both Flexi Cap funds. As of 6 Nov 2026 (Direct plan, Growth option): 3-year CAGR +16.47% vs +12.30%, 5-year CAGR +12.84% vs +10.15%, volatility 17.50% vs 15.01%, maximum drawdown −39.79% vs −35.36%. Their portfolios overlap by 34.3% (31 stocks held by both).
Showing the Direct plan, Growth option. Portfolio, sector and market-cap figures are the same for every plan and option of a fund.
Key facts
| HSBC Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Fund house | HSBC Mutual Fund | Union Mutual Fund |
| Compared as | Flexi Cap | Flexi Cap |
| NAV | ₹264.5904 | ₹60.1800 |
| NAV date | 6 Nov 2026 | 6 Nov 2026 |
| Launched (first NAV) | 2 Jan 2013 | 2 Jan 2013 |
| Track record | 13.8 yrs | 13.8 yrs |
| Fund size (AUM) | ₹5,749 Cr | ₹2,320 Cr |
| Securities held | 84 | 75 |
| Portfolio as of | 30 Sep 2026 | 30 Sep 2026 |
| Fund page | Full record → | Full record → |
Returns
| HSBC Flexi Cap | Union Flexi Cap | |
|---|---|---|
| 1 month | +2.65% | +4.57% |
| 3 months | +0.25% | +0.82% |
| 6 months | +4.90% | +5.88% |
| 1 year | +6.31% | +4.52% |
| 3 years (CAGR) | +16.47% | +12.30% |
| 5 years (CAGR) | +12.84% | +10.15% |
| 7 years (CAGR) | +16.69% | +15.82% |
| 10 years (CAGR) | +13.80% | +13.84% |
| Since launch (CAGR) | +14.94% | +13.09% |
| SIP return (XIRR, 5 years) ⓘ | +14.22% | +11.33% |
Up to one year: absolute return. Beyond one year: CAGR. Computed from each fund's own NAV history (AMFI), measured to the latest NAV.
Calendar-year returns
| HSBC Flexi Cap | Union Flexi Cap | |
|---|---|---|
| 2026 (year to date) | +6.30% | +3.30% |
| 2025 | +2.15% | +4.17% |
| 2024 | +29.58% | +18.20% |
| 2023 | +32.84% | +28.97% |
| 2022 | −3.48% | +0.05% |
| 2021 | +35.51% | +38.27% |
Risk
| HSBC Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Volatility (annualised) ⓘ | 17.50% | 15.01% |
| Downside volatility ⓘ | 11.51% | 10.85% |
| Sharpe ratio ⓘ | 0.57 | 0.39 |
| Sortino ratio ⓘ | 0.87 | 0.53 |
| Maximum drawdown ⓘ | −39.79% | −35.36% |
| Recovery from that fall | 8 months | 6 months |
| Current fall from peak | −1.61% | −0.10% |
| Rolling 1-year return: worst | −34.54% | −27.51% |
| Rolling 1-year return: median | +12.53% | +11.08% |
| Rolling 1-year return: best | +94.28% | +95.81% |
| Share of 1-year periods with a loss | 19.27% | 18.35% |
Against each fund's benchmark
| HSBC Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Beta ⓘ | 1.07 | 0.94 |
| Alpha (Jensen's, annualised) ⓘ | +4.18% | +0.76% |
| R² ⓘ | 90.67 | 94.21 |
| Upside capture | 118.75% | 98.41% |
| Downside capture | 102.68% | 93.93% |
| Tracking error | 5.47% | 3.77% |
| Information ratio | 0.85 | 0.16 |
| Treynor ratio | 7.81 | 4.58 |
Portfolio
Asset mix
| HSBC Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Equity | 98.80% | 95.02% |
| Cash & equivalents | 1.20% | 4.87% |
| Debt | 0.00% | 0.11% |
Market-cap split (share of fund assets)
| HSBC Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Large Cap | 45.91% | 51.69% |
| Mid Cap | 19.72% | 12.51% |
| Small Cap | 27.46% | 26.35% |
| Unclassified | 5.71% | 4.47% |
Concentration
| HSBC Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Top 10 holdings | 22.49% | 31.06% |
| Effective number of stocks ⓘ | 70 | 53.1 |
| Securities held | 84 | 75 |
Portfolio overlap: 34.3%
31 companies are held by both funds; by weight, 34.3% of the two portfolios is the same. That is a moderate overlap.
| Held by both | HSBC Flexi Cap | Union Flexi Cap |
|---|---|---|
| ICICI Bank Limited | 3.89% | 6.32% |
| State Bank of India | 1.80% | 3.35% |
| HDFC Bank Limited | 1.79% | 4.51% |
| Bharti Airtel Limited | 1.79% | 2.61% |
| Axis Bank Limited | 1.64% | 3.65% |
| Eternal Limited | 1.60% | 2.21% |
| Reliance Industries Limited | 2.47% | 1.43% |
| Cholamandalam Investment and Finance Company Ltd | 1.25% | 1.61% |
| Coforge Limited | 1.95% | 1.21% |
| Ather Energy Limited | 1.32% | 1.11% |
| Dhoot Transmission Ltd | 1.11% | 1.28% |
| Billionbrains Garage Ventures Ltd | 1.10% | 1.11% |
| Shriram Finance Limited | 1.45% | 1.06% |
| Bharat Heavy Electricals Limited | 1.06% | 1.57% |
| Divi's Laboratories Limited | 1.03% | 2.28% |
Top 10 holdings
HSBC Flexi Cap
- ICICI Bank Limited3.89%
- Reliance Industries Limited2.47%
- TD Power Systems Limited2.31%
- Kotak Mahindra Bank Limited2.22%
- The Karnataka Bank Limited2.11%
- Multi Commodity Exchange of India Limited1.99%
- Coforge Limited1.95%
- Samvardhana Motherson International Limited1.91%
- Tata Steel Ltd.1.84%
- State Bank of India1.80%
Union Flexi Cap
- ICICI Bank Limited6.32%
- HDFC Bank Limited4.51%
- Axis Bank Limited3.65%
- State Bank of India3.35%
- Bharti Airtel Limited2.61%
- Divi's Laboratories Limited2.28%
- Eternal Limited2.21%
- Bajaj Finance Limited2.19%
- Gabriel India Ltd.1.97%
- Sai Life Sciences Limited1.97%
Sector exposure
| HSBC Flexi Cap | Union Flexi Cap | |
|---|---|---|
| Banks | 15.19% | 20.48% |
| Pharmaceuticals & Biotechnology | 4.80% | 10.11% |
| Finance | 9.37% | 5.87% |
| Electrical Equipment | 8.45% | 3.71% |
| IT - Software | 6.68% | 4.77% |
| Capital Markets | 6.04% | 3.20% |
| Auto Components | 4.23% | 4.67% |
| Retailing | 2.80% | 3.91% |
| Transport Services | 1.01% | 3.82% |
| Industrial Manufacturing | 3.50% | 0.00% |
| Beverages | 3.40% | 1.19% |
| Automobiles | 3.31% | 1.83% |
| Construction | 2.16% | 3.26% |
| Ferrous Metals | 3.10% | 0.54% |
Questions people ask
What is the difference between HSBC Flexi Cap and Union Flexi Cap returns?
As of 6 Nov 2026, Direct plan Growth option: 1-year return +6.31% vs +4.52%; 3-year CAGR +16.47% vs +12.30%; 5-year CAGR +12.84% vs +10.15%; 10-year CAGR +13.80% vs +13.84%. Past returns do not indicate future returns.
How do HSBC Flexi Cap and Union Flexi Cap compare on risk?
Volatility (36 monthly returns, annualised) 17.50% vs 15.01%; Sharpe ratio 0.57 vs 0.39; Sortino ratio 0.87 vs 0.53; maximum drawdown −39.79% vs −35.36%; beta 1.07 vs 0.94.
How much do HSBC Flexi Cap and Union Flexi Cap overlap?
By weight, 34.3% of the two portfolios is invested in the same companies; 31 stocks are held by both, the largest shared positions being ICICI Bank Limited, State Bank of India, HDFC Bank Limited. Based on the portfolios disclosed for Sep 2026 and Sep 2026.
What is the large, mid and small cap split of HSBC Flexi Cap and Union Flexi Cap?
HSBC Flexi Cap: large cap 45.9%, mid cap 19.7%, small cap 27.5%. Union Flexi Cap: large cap 51.7%, mid cap 12.5%, small cap 26.4% (share of the fund's assets, from its latest disclosed portfolio).
Is this a recommendation to choose one of these funds?
No. This page places the published figures of both funds side by side. It does not rank, rate or recommend either fund; which one suits an investor depends on their goals, horizon and risk tolerance.
More comparisons
HSBC Flexi Cap vs
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Sources: NAV from AMFI; returns, risk and ratios computed by MF Analyser from each fund's NAV history (risk on 36 monthly returns, risk-free rate 6.5%); benchmark ratios against each fund's benchmark total-return index; portfolios from each fund house's monthly disclosure. Returns and ratios as of 6 Nov 2026. IDCW options show no return or risk figures because payouts reduce the NAV and AMFI's file carries no payout history to add back. This page compares published figures only — it does not rank, rate or recommend either fund. Past performance does not indicate future returns; mutual fund investments are subject to market risks.